OppFi (NYSE:OPFI) Shares Down 10% – Should You Sell?

Shares of OppFi Inc. (NYSE:OPFI) were down 10% during trading on Tuesday . The company traded as low as $12.36 and last traded at $11.80. Approximately 628,991 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 2,547,869 shares. The stock had previously closed at $13.11.

Analyst Upgrades and Downgrades

Several research analysts have commented on OPFI shares. Northland Securities raised their price target on shares of OppFi from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citizens Jmp cut OppFi from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, JMP Securities lowered OppFi from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th.

OppFi Price Performance

The stock has a market cap of $1.03 billion, a P/E ratio of 74.97 and a beta of 1.57. The company has a 50 day simple moving average of $10.61 and a 200-day simple moving average of $7.18.

Insiders Place Their Bets

In other news, Director David Vennettilli sold 22,301 shares of OppFi stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $7.68, for a total value of $171,271.68. Following the transaction, the director now owns 121,524 shares in the company, valued at approximately $933,304.32. The trade was a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 84.00% of the company’s stock.

Institutional Trading of OppFi

Several hedge funds and other institutional investors have recently bought and sold shares of OPFI. Renaissance Technologies LLC increased its stake in shares of OppFi by 52.6% in the fourth quarter. Renaissance Technologies LLC now owns 826,115 shares of the company’s stock worth $6,328,000 after buying an additional 284,900 shares during the period. Marshall Wace LLP grew its stake in shares of OppFi by 249.2% in the fourth quarter. Marshall Wace LLP now owns 617,366 shares of the company’s stock worth $4,729,000 after purchasing an additional 440,582 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in OppFi during the 3rd quarter valued at about $2,457,000. Two Sigma Investments LP raised its position in OppFi by 19.8% during the 4th quarter. Two Sigma Investments LP now owns 447,260 shares of the company’s stock valued at $3,426,000 after purchasing an additional 73,905 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in OppFi by 27.9% in the 4th quarter. Two Sigma Advisers LP now owns 429,100 shares of the company’s stock worth $3,287,000 after buying an additional 93,700 shares during the period. Institutional investors own 7.10% of the company’s stock.

About OppFi

OppFi Inc operates a cialty finance platform that allows banks to offer credit access. Its platform facilitates the OppLoans, an installment loan product; SalaryTap, a payroll deduction secured installment loan product; and OppFi Card, a credit card product. OppFi Inc was founded in 2012 and is headquartered in Chicago, Illinois.